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Cash managenet

Forums › Ask CIMA Tutor Forums › Ask CIMA F1 Tutor Forums › Cash managenet

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  • December 9, 2019 at 3:53 pm #555552
    nour2014
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    A quick question about how to calculate the open/close inventory. Is the open is % of sales or % of the cost of sales in that month?

    December 13, 2019 at 10:08 pm #555886
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7060
    • ☆☆☆☆☆

    Hi,

    It would be on the cost of sales, if it is given in $. You cannot take a percentage of the sales figures in $ as this incorporates the profit, and inventory is held at the lower of cost and NRV.

    Thanks

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